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H. Rodgin Cohen has given a cryptic answer to a point blank question at a recent lecture in New Haven: What about Sullivan and Cromwell’s spring bonuses? After all, they haven’t been announced, and though Cohen is now only the “senior chairmen” of Sullivan, and is no longer the Chairman, the audience was hoping for something more than the “no comment” from Joseph Shenker, the current chairman.
Cohen wasn’t much more informative. He laughed a little and said “Spring is not yet done. We go by the calendar, not by the weather,” referencing to the early start on warm weather.
Cohen then qualified his comment by adding: “But I’m no longer chairman, so it’s not fair for me to comment on that,” leaving it unresolved what the company has planned.
The seeming delay in S&C’s announcement has associates guessing whether this is a ploy to dissuade them from taking other offers. Sullivan did hint in their year-end bonus announcement that there would be spring bonuses. The international law firm, which is headed in New York City, has over 800 lawyers, making it the world’s 18th largest firm. When such a large number of lawyers wonder about their bonuses, the world of law feels the murmur.
